4 Cdd
February 28, 2024

Did you know that a survey found that 48% of interviewed banks noted that customer due diligence regulations were some of their biggest challenges? Based on this information, a weak program is going to have consequences for your AML program. When using manual processes, it can be tough to meet all regulatory expectations regarding customer due diligence. Manual processes are often

Read More
CDD – Customer Due Diligence And Automation
45
February 20, 2024

Table of Contents Enhanced Due Diligence Challenges 12 Risk Factors For Enhanced Due Diligence Customer Risk Factors Geographical Risk Factors Additional Risk Factors Beyond basic customer due diligence, or CDD, it’s important that you carry out the correct processes to ascertain whether enhanced due diligence, or EDD, is necessary. Enhanced due diligence is a level of customer

Read More
Enhanced Due Diligence (EDD) Of Customers
53
February 20, 2024

Table of Contents The Origin of Customer Due Diligence Requirements The Customer Lifecycle 6 Elements Of The Customer Due Diligence Program 1) Identification 2) Verification 3) Nature of Relationship 4) Additional Information 5) Documentation 6) AML Risk Scoring Application Of Customer Due Diligence According To The AML Risk Scoring Ongoing Due Diligence Know Your Customer

Read More
Know Your Customer (KYC) And Customer Due Diligence (CDD)
70
February 19, 2024

Table of Contents What Is A PEP? Money Laundering Involving PEPs Identifying Politically Exposed Persons Defining the Scope Of The PEP Definition Operational Actions When Dealing With PEPs PEPs’ Risk Return Profile One very important tool that should be part of your operational AML compliance toolkit is about dealing with Politically Exposed Persons (PEPs). Subsequentially to

Read More
How To Deal With Politically Exposed Persons (PEPs)?